How to Set Trailing Stop Loss on ThinkorSwim Mobile App

[@shortthestrike]

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[@1Scital1]

8 minutes I learned more than in multiple hour long videos. Liked and subscribed

[@shortthestrike]

Thank you!

[@zevkej]

Subbed because of this comment, before I even watch it 😂

[@loveforlife6621]

OmG! You are the best. Watched tons of videos trying to figure out how to use a trailing stop loss but no one explained as good as you did. Can't wait for the market to open i try trailing stop with an advanced order. Been practicing all weekend. Wish me luck. Thank you.

[@tr3sidential]

Thanks!

[@tiffaneychanel]

Thank you so much! This is the best explanation I’ve seen and I’m no longer confused.

[@trusting2340]

Thank you for the explanation. Clear and to the point.😊

[@LBsTrades]

this is the video i've been looking for! much props!

[@tradingisalifestyle1330]

very simple... this needs to have more views

[@ukitnam4200]

Thank you! Exactly what I wanted to learn how to do.

[@shortthestrike]

Thanks, glad it helped!

[@djeremie2153]

Very helpful. Best way to minimize loss when trading options. Know when to cut losses

[@angeliquejackson7443]

great video-so sick of losing money on these options-you explained this to a perfect t

[@joshdees]

6:03 I tired to create an advanced order with a trailingstop, the 2nd exmple you showed, and my order got rejected because" it is not an opening transaction. It will decrease or close an existing options position." Why do I keep getting this error?

[@Mike-es2yg]

Hey man thanks for the videos! BIG help

[@Dimitrius1]

Awesome tutorial! Thank you!

[@M23Trade]

Yo this just saved my account 😂

[@DerkMiester]

So helpful! I'm trying to soak all this info in!

[@andrenawright8037]

I have been looking for this forever. Thank you, thank you, thank you.

[@shortthestrike]

You're welcome!

[@votran2458]

Thank you so much for your video. Keep up the good work brother

[@festusakpobomeemaniru8547]

Nice tutorial.

[@August_VeryOwn]

That was actually great

[@miked6097]

Would the “dollar amount” on the trail stop be for the premium on the option or a loss on the stock price…(when doing it for options)..?

[@directfromtheair5888]

Gee - first viewer - another good video

[@shereecebrowne1772]

Thank you for the gems!!

[@livebetter397]

#HappyHolidays thank you for your video do you have one for if you're using ToS download on your pc🤔

[@jordanturner9815]

You a goat for this vid bro 🐐! You might’ve changed my life after this

[@shortthestrike]

Thanks!

[@Newyorkcityface]

So if option trading percentage trailstop gonna use option price or stock share price ?

[@ang2246]

Thank you so much! Here in 2024 app is a little different. My trailing stop order. Says [To Open] and should say [To Close] what am I doing wrong? This is an option order in sim.

[@genuinetalkwithalf3400]

Thank you so much for this videos.

[@mariotooch]

Thanks. Your videos have been extremely helpful. Question: can I change my stop loss/trailing stop order in a trade I've already made on the mobile app? For example, say I bought a call option with a 15% trailing stop. The option is going in my favor and I want to lock in profits. Can I lower my trailing stop from 15% to say 10% in the mobile app? Thanks for your videos.

[@abdullahosama146]

Can you choose the option contact that you want to buy , then set the trailering stop, then after set the sell price in the same time?

[@temiwale88]

Thank you! Quick question: what if I want a trailingstop on my options contract but only to activate after the Mark has gone up in x%? Meaning, if it drops from what I paid I don't want the trailingstop to be activated and get stopped out. Not until my Mark has reached a desired profit target.

[@zackbarton7859]

Did you ever figure this out? Wanting to set a trail stop on options that are based on the *stock’s* underlying mark. Not sure how.

[@КумысМамбетов-й8ш]

After pushing “create advance order” you enter your buy parameters, then go to your trail stop order set up square and click on it , set up your trail stop amount, then scroll all way down to SUBMIT ON MARKET CONDITION , push the lever , then it will open up , then look for TRIGGER , now select when order will be triggered (based on the price of the stock ( not price of the option ) - above or below , then look at THRESHOLD enter the stock price at which your trail order will trigger (go to the market) , then go all way up the screen and in the top left corner click on GROUP , then REVIEW , then submit . So what is going to happen : After your buy order gets filled , your trailing stop order will remain on hold ‘till the stock reached specified by you level and then , when that level is reached then your order will go to the market and trail the the stock or option ( if you trade your options based on the stock price , not on the option price ). I hope it helps . Just open the app and follow the instruction step by step - it will be less confusing . Good luck 🤞

[@temiwale88]

@@КумысМамбетов-й8ш Thanks!

[@georgedyer5979]

This is such a helpful video, thank you!

[@gerhard9631]

Very clear & very helpful!!

[@ang2246]

Thank you so much for this helpful video!

[@laronmarion8725]

Thank you, been trying to figure this out for a while now.

[@shortthestrike]

Glad it helped!

[@nreyes935]

Great video bro, thanks!

[@jimmyg10000]

Great to the point video ☝️

[@Salmantwim]

So on the last option order, if it’s up 15% you would be at break even… not of the stock price but of the option profit/loss. Correct? So if it goes up 15% then falls way lower. You would be at no loss, except for fees ofc.

[@louismarquez9562]

This was really good. Thank you

[@jasonpermanna308]

It interesting that there is trailing stop loss for option. What if the price contract drop quickly to 25% and the trailing stop loss is 15% would that trigger?

[@tumuch8936]

@shortthestrike - Can I see a trailing using the underlying vs a percentage or dollar amount? For example, I want to have it trail it down but cancel the order if it moves 5-10 pts against me etc

[@VL-od1sd]

Do you need if we can save the templates in the phone, instead we need to do it again and again?

[@D4RKxMARAUDER]

I am doing an advanced order and on the review screen it says my first order is buy to open and my second order of a trailing stop is a sell to open aswell. What am i doing wrong? I am doing this for an options contract if that matters.

[@louismarquez9562]

Wait I have a question. If you want to buy a PUT and also set your trailing stop as a percentage, do you put your percentage as a negative or a positive? would it be positive since you don't want the price going up when you have a put? newbie here lol

[@shortthestrike]

If you an options, whether a call or put, you'll put the trailing stop as a negative percentage amount. It's going to be trailing the option price not the stock price. So if the put option price decreases by your percentage amount you'll close out of your position. Hope this helps!

[@louismarquez9562]

@@shortthestrike Youre awesome, thank you man. Happy new year!

[@joshward8395]

How do I make the trailing stop go off of the con price and not the stock price? For day trading options. I wanna say "sell if my position is down $10, and follow the price up from there." I hope that makes sense

[@MikeSeris]

Is there a faster way or automatic way to input stop loss?

[@samlee3067]

Quick question on the Trail Stop. When you set a trail stop, whether its dollar amount or percentage, will the new high be the basis for the order getting filled at the set trail stop price/percentage? hope this makes sense.

[@shortthestrike]

You’ve got the right idea! It’s going to follow the price and stock always trailing by the amount you set. So if you put in a 50 cent trail and the stock is trading at $10 at the time, your stop would originally be set at $9.50. Then if the stock moves up to $15 without ever dropping by 50 cents, you stop would now have moved up to $14.50. 50 cents below that high. Hope that helps!

[@vibertjack4418]

HEY BRO, CAN U DO A VIDEO HOW TO SELL A CALL OPTION??

[@spritely2158]

Thank you very much! Couldn’t for the life of me figure out how to make it a percentage. Now I feel stupid lol. Is there a way to set the 15% trailing stop as a default order so I can just hit advanced order and send to execute my trades quicker?

[@shortthestrike]

They don't have templates like that in the mobile version. You can do it in the desktop version, but not mobile. Hopefully they add that in the future!

[@RobertHayes-k5j]

Can you set Trailing stops on Call LEAPS

[@jimlahey8210]

Does this work for active contacts as well?

[@6ixset106]

Why is it that when I do this, my trailing stop order is [to open] instead of [to close] ? Can't figure out how to make it a closing order....

[@Rossareno_]

Yeah i agree.. Basically evething you could possibly need to know about creating a trailing stop loss.

[@2cthetruth]

Slow and convoluted for options. Make the process easier and faster

[@ttudoc5690]

25% trailing stop from your purchase price or from the price when you set the trailstop

[@ttudoc5690]

I guess I'm wondering the the percentage trailstop follows the price up but stops at 20% it drops from the highest point.

[@katanaclawz]

If you buy a call contract with OCO trailing stop and you sell it manually does the second order cancel automatically?

[@shortthestrike]

You'd need to set it up as OCO for the other to be cancelled. If you have an OCO order out there, then decide to just manually close with a separate order, it would be rejected unless you have full options approval because the other order would not cancel. If its a part of the OCO, yes the other order would automatically be cancelled as soon as the other order fills.

[@DanielLee-qz1yd]

On mobile, are you able to save a default stop loss? So it’ll be automatically set up on every trade you take?

[@shortthestrike]

Not on the mobile. They have templates on the desktop but you're not able to yet on the mobile unfortunately.

[@DanielLee-qz1yd]

@@shortthestrike man that's a bummer. i work full time so on the phone mostly. have to have muscle memory and quick thinking to set stop losses sometimes

[@abdullahiabdi2863]

good video

[@maignanmclopez345]

A little confused but okay . What if you already bought the contract and you are in the play and you want to go in put the stop loss !?

[@shortthestrike]

Thats actually the first example. It starts at around 0:50. It will the exact same process for stock or an option.

[@323arte]

Now if your contracts goes up how do you take profit?

[@shortthestrike]

You would just place a limit order. If you'd like them to work simultaneously, you'll place an OCO bracket order

[@ttudoc5690]

If you accidently (bc you didn't know) changed the negative 1 quantity when trying to sell to a positive one. What would happened...I mean hypothetically speaking

[@shortthestrike]

Like you're trying to sell an open position? Or create a short? If you don't hold the position and you sell something (-1) you'll go short the stock or the contract. If you already hold the stock or options, when you sell it will just close that open position. Does that answer your question?

[@ttudoc5690]

@@shortthestrike sell and open call position...the neg 1 didn't make sense so I changed it to pos 1